Business

New owner’s plan for Fonab Castle Hotel in Perthshire

THE new owner of a historic castle that is home to a five-star hotel and spa, hailed as one of Scotland’s finest, is to introduce a new business plan after acquiring the site for an undisclosed sum, agents said.

Savills, on behalf of a private client, said it has completed the sale of Fonab Castle in Pitlochry, which is located 26 miles north of Perth, to Fonab SPV.

The luxury five-star hotel and spa resort with fine dining restaurant is set in an 11-acre rural estate overlooking Loch Faskally.

The property is a Category B listed Scottish baronial mansion house, dating to 1892, with a significant heritage having been owned by wealthy merchants and also operated as a British Red Cross auxiliary hospital caring for wounded soldiers during the First World War.


HeraldScotland:


It was later acquired and used by a power company before being taken over by the Clark family.

The property is situated in a “highly accessible yet semi-rural” location and surrounded by mountains, woodlands and the River Tummel, the agent said.

It has 43 individually styled guest bedrooms and suites, some with outstanding period features and breathtaking views.

The property also has a bespoke spa and 3 AA Rosette fine dining restaurant.

The hotel also introduced pod dining to the estate with music and service button for drinks parties or breakfast, lunch, afternoon tea or dinner parties.

The agent described the premises as “one of Scotland’s finest five-star hotels”.

Steven Fyfe, associate director in the hotels capital markets team at Savills Glasgow, said: “We are delighted to complete the sale of Fonab Castle on behalf of the owners, which offers a truly remarkable, luxury Scottish experience. “We look forward to watching the purchasers’ business plan take shape.

“Pitlochry is a popular destination for tourists offering beautiful scenery and many attractions.

“The market for luxury and leisure-led hotel assets is continuing to attract strong demand.”

The firm posted a £300,000 pre-tax loss in its most recent accounts, to June 2020, which were posted in June 2021, against a £900,000 pre-tax profit in 2019.

Its operating loss last year was £258,000, against a £955,000 operating profit the year before.

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